Other GHP Incentives

The following GHP incentives may be claimed in addition to the Indiana Residential Geothermal Heat Pump Rebate.

1. Indiana electric utility rebate programs
   Many Indiana electric utilities offer rebates to their customers for the installation of geothermal heat pumps in their homes. Please check page two of this document for some of the latest utility rebate information. Because utilities continuously review and sometimes change their rebate offerings, we suggest that you contact your electric utility directly for their current rebates and procedures.


2. Federal income tax credit
   The federal government offers purchasers of qualifying geothermal heat pumps a $300 income tax credit. This income tax credit is available for systems placed in service from January 1, 2006, through December 31, 2008. Qualifying closed-loop systems must meet the following criteria: 14.1 cooling Energy Efficiency Ratio (EER) and 3.3 heating Coefficient of Performance (COP). These are the same criteria used for the Indiana Residential Geothermal Heat Pump Rebate program. Please visit http://www.energytaxincentives.org/consumers/heating-cooling.php for more information.


3. Indiana Renewable Energy Property Tax Exemption
   In Indiana, systems that generate energy using solar, wind, hydropower or geothermal resources -- including geothermal heat pumps -- are exempt from property tax. The exemption is allowed every year that a qualifying system functions. Significantly, the entire renewable energy system and affiliated equipment, including equipment for storage and distribution, are exempt from property tax. Renewable energy systems attached to mobile homes also are exempt. Please contact your County Auditor for more information about this incentive. This incentive is authorized by Indiana Code 6-1.1-12-34.